TowsonGlobal’s Second Business Plan Competition has finally declared a winner! On May 2, after months of preparations, two teams emerged as the winners of the competition. The first place winner was ToolSpinner, a team of Towson University alumnus brothers who created an online platform for tool rentals. Second place went to the Johns Hopkins team Innovostics, a medical device company that specializes in detecting various causes of fevers in patients within minutes, using an extremely low cost methods.

Over the course of that afternoon, these two teams, along with the other finalists—Hemova Port, NeoPersona, and Momo Scientific—presented both in front of a panel of distinguished judges and at a public forum. After careful consideration, ToolSpinner was selected the winner. All of the presentations were impressive, well-prepared, and the concepts were not only innovative but socially conscious.

During the discussions, the judges provided insightful financial, marketing and management advice. The competition was stiff, but; after intense deliberation, it was decided that ToolSpinner offered the most viable business concept.

The first place prize package is valued at $17,400 and includes a monetary prize of $4,000, a 90-day Resident membership to TowsonGlobal and executive coaching from CEOIQ. The second place winner also receives a prize package valued at $5,200, which includes a monetary prize of $1,000, 90-day Associate Membership to TowsonGlobal and one year membership to the online community and resources of CEO IQ.

We would like to thank our sponsors and judges for their support and for helping us make this successful event!

TowsonGlobal’s latest effort in encouraging and strengthening entrepreneurial spirit and innovation in the Baltimore area has surpassed expectations. The response to the competition has been gratifying and shows the great potential of entrepreneurs in our region. Stay tuned for the next competition in 2013!